Marcos supports LandBank-DBP merger

Diokno said in a message the merger would create the largest financial institution in the country that would better serve the country’s development needs.

“DBP is committed to fulfilling its mandate of being a catalyst for national development by serving the financing needs of strategic and critical economic sectors, particularly infrastructure and logistics, micro, small and medium enterprises, social services and the environment,” the bank said.“We assure the general public that the entire board of directors, management team and the rest of the public servants of DBP remain steadfast in serving the banking needs of our clients.

He said the merger would complement the strengths and address the weaknesses of the two banks, while the improved financial position would provide a bigger headroom for loans that could be utilized for development projects. He said the merged bank would be in the best position to serve as the sole authorized government depository bank for the entire government and its instrumentalities.

Assets posted a double-digit expansion of 21.5 percent to P3.1 trillion from P2.6 trillion, driven by deposits which expanding by 21.8 percent to P2.8 trillion from P2.3 trillion. Its financial ratios remained at healthy levels, with return on equity at 14.37 percent, return on assets at 1.05 percent and net interest margin at 2.97 percent.

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DOF's Diokno: Marcos OKs Landbank-DBP mergerPresident Ferdinand Marcos Jr. approved the proposed merger of state-run lenders Land Bank of the Philippines and Development Bank of the Philippines (DBP), with Landbank as the surviving entity that could become the largest bank in the country in terms of assets.
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Bongbong Marcos backs Landbank-DBP merger, says Finance secretaryFinance Secretary Benjamin Diokno said President Ferdinand Marcos Jr. had “approved” the planned merger of DBM with Landbank of the Philippines in a sectoral meeting on the merger in Malacañang. | DYGalvezINQ / RonWDomingoINQ
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Marcos backs Landbank-DBP mergerPresident Ferdinand Marcos Jr.
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Marcos approves merger of Landbank, DBPPresident Ferdinand Marcos Jr. gave his thumbs up to the proposed merger of LandBank and the Development Bank of the Philippines (DBP) following recent developments in the international banking sector, the Finance chief said. Yes sir, monopoly these merger will benefits the lender, the borrowers have a hard paying the loans,interest rates is rising 6.25% causing defaults for unemployed or health issues may arise on the family. Thus far these 2 Senators Gatchalian & Hontiveros are doing their jobs.
Источник: CNN Philippines - 🏆 13. / 63 Прочитайте больше »

Marcos OKs DBP-Landbank mergerPresident Ferdinand Marcos Jr. has approved the merger of Landbank with Development Bank of the Philippines, paving the way for the creation of the new biggest player in the local banking sector. | NCorralesINQ RonWDomingoINQ /PDI NCorralesINQ RonWDomingoINQ Landbank acquired UCPB and now this merger, so thats three banks in one bank. Clearly the govt is looking to fund MWF. NCorralesINQ RonWDomingoINQ fish NCorralesINQ RonWDomingoINQ 😳
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